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Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had passed. As it turned out yesterday, it hadn’t. The industry’s benchmark, the Baltic Dry Index lost another 3.94% to reach 1,292 points, with the Capesize segment losing 3.05%. But, it was the Panamax market that tumbled the most yesterday, by a whopping 5.08% on a daily basis.
Accroding to a report from BIMCO’s shipping analyst Peter Sand, the current weakness in the Capesize won’t go away anytime soon. “Capesize rates have defied gravity on the back of strong demand for particularly coal but also for iron ore during 2010. This has neutralized some of the downside effects from the heavy inflow of new tonnage into the market. Last year alone, the Capesize fleet grew in numbers by 200 and tonnage wise by 22% and the forecast for this year is an equally challenging supply side growth. With dry bulk demand in 2011 expected to be a little less strong than in 2010 – the freight rate outlook for the Capesize segment is a bit bleak. 20 new Capesize vessels have already joined the fleet in 2011 and with ongoing weather related disruptions not only in Australia – volumes and shipments will be too few to support a significant rate rebound over the coming months” said Sand.
In a separate note, Paris-based shipbroker Barry Rogliano Salles said that “there are some hopes for an increase in activity following the gradual resumption of coal exports in Australia. At the moment Aussie-China rates appeared to have plateaued around US$6.75. Monday saw another small drop in the BCI, while in the FFA market all periods came off with declines greatest for February and March prices”.
BIMCO’s analysis indicated that there are currently 110 Capesize vessels sitting outside the Australian east coast, something which in any other normal case, would be regarded as a healthy picture in terms of freight rates, as actual supply is recuded. “But this time around it merely spells out the trouble and indicates what’s in sight for the large vessels in 2011. Orderings of new Capesize vessels have come relatively down as only 31% of all dry bulk orderings were Capesizes last year. This compares to a relative portion of 50% in the year 2006-2009. Since Capesize freight rates fell below USD 13,000 per day the daily negative change has slowed down and Capesize rates might rest within the interval of USD 7,000-13,000 per day in coming months. As a clear illustration of how bad the situation for the Capesize vessels is, all of the smaller dry bulk segments currently obtain better freight rates than Capesizes. As per 24 January, Capesize average time charter rates were as low as USD 8,665 per day. Meanwhile Panamax earned USD 12,725 per day, Supramax USD 14,789 per day and Handysize USD 11,232 per day.
Even though selected back-haul routes have slipped into negative territory, the time charter averages have not gone that sour. In December 2008 when demand evaporated due to the letters-of-credit issues (and the overall crisis – of course) average T/C rates were as low as USD 2,316 per day. This time around demand is strong as indicated be rising commodity prices – so you should not expect rates to dig that deep” said Peter Sand.
He went on to conclude that such low freight rates are disastrous for ship owners, especially those who are trading in the spot market. According to him, ways out of this would probably be massive demolition of older tonnage, vessels being laid-up like back in the 80’es, postponements of newbuilt deliveries to an even larger extend than what we saw in 2010 and hesitation about signing new contracts for vessels.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
Thursday, 10 February 11
SUPRA RATES IMPROVED A LITTLE OVER US$ 6K BSS N. CHINA DELIVERY FOR INDO-INDIA AND THAILAND ROUNDS - FEARNBULK
Handy
Atl is still weak with little fresh enquiry and an accumulation of spot tonnage.Owners are reluctant to send tonnage thru Suez due to uncert ...
Thursday, 10 February 11
BUKIT ASAM EXPECTS ABOVE RP 3 TRIO PROFIT
The state-owned coal miner PT Tambang Bukit Asam Tbk (PTBA) expects to reach 2011's net profit above Rp 3 trillion (US$ 336,322,568) from above Rp2 ...
Wednesday, 09 February 11
INDONESIA ALLOWED 60 COAL TRADING COMPANIES TO EXPORT COAL
COALspot.com - A temporary ban imposed on coal traders in January has lifted this week. As of today 60coal trading companies were allowed to resume ...
Tuesday, 08 February 11
INDIA'S SIMHAPURU TARGETS S.AFRICAN COAL - ECONOMIC TIMES
Economic Times reported that, India's Simhapuri Energy , a unit of the Madhucon Group , wants to buy new or existing collieries in South Africa fro ...
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- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Bhatia International Limited - India
- PTC India Limited - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- MS Steel International - UAE
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
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